Middle East Economic Survey

VOL. LIII

No 13

29-March-2010

EGYPT

ADB Lends ERC $225Mn To Build Hydrocracker And Coker

The African Development Bank (ADB) has approved $225mn in loans to the Egyptian Refining Company (ERC) to help build and operate a new hydrocracking and coking facility at its Cairo Oil Refinery Company (CORC), ADB announced on 19 March. The bank said that it would consider providing an additional B-loan of up to $80mn if requested, in addition to the $200mn senior loan and a $25mn...